Audit readiness & assurance

Why this page has two halves.

Independence is the whole architecture of assurance work. An auditor cannot audit records they prepared themselves — not as a technicality, but because the report would be worthless to the lender, funder, or board relying on it. Firms that blur this are worth a second look.

Audit readiness — for our accounting clients

If we keep your books, this is what you get. Records maintained in an audit-ready condition all year: reconciliations current, supporting documentation organized, trial balance and schedules ready to hand over. When your independent auditor arrives, fieldwork is short because nothing has to be reconstructed.

Through the engagement we assist in gathering requested documentation, answer the auditor's questions about how figures were derived, and help you understand the management letter afterward. What we do not do is issue the opinion — and we will help you find and evaluate an independent firm that will.

Independent audits — for organizations we do not book-keep

Where no independence conflict exists, this firm performs audits, reviews, and compilations directly. Audit fees run $6,000 to $12,000 depending on size, complexity, number of funding sources, and how ready the records are. Reviews and compilations cost considerably less.

Compilation

Financial statements assembled in proper format. No assurance expressed. Often enough for a small loan or an internal need.

Review

Analytical procedures and inquiry, producing limited assurance. A common middle option for lenders and smaller grant requirements.

Audit

The full engagement — testing, confirmations, sampling, internal control evaluation, and an opinion on whether the statements are fairly presented. Required for most government grants, many bonding requirements, and larger credit facilities.

Which level do you actually need?

People say “audit” when they often need something smaller. Ask whoever is requesting it — the funder, loan officer, or grant administrator — and get the requirement in writing. Paying for an audit when a review was required is an expensive misunderstanding, and we would rather tell you that than take the fee.